Indonesian Market Recap
JCI closed higher yesterday as the banking sector rallied ahead of the release of BBCA’s financial performance. Top Gainers: Finance (+2.36%), Infrastructure (+1.68%), Basic Industry (+1.06%).
Today’s Outlook: Exception to the U.S. Import Tariff
Today we estimate JCI to rally with the support range of 6407-6412 and resistance range of 6485-6491. From global outlook, the concern about the U.S. import tariff subdued after Trump gave the exception to Mexico and Canada. It is possible that the exception will apply to other countries. From domestic outlook, the positive sentiment comes from buy action of big cap banking performed by foreign investors. Such action was mainly triggered by the release of BBCA performance.
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